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Q3 2021 Highlights

Q3 2021 Financial & Operational Highlights | October 27, 2021 1Q3 2021 HighlightsOctober 27, 2021Q3 2021 Financial & Operational Highlights | October 27, 2021 2 Safe Harbor for Forward-Looking Statements andUse of Document:Safe Harbor for forward-looking statements:This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our expected net sales, reported, operational and organic revenue growth rates; reported and adjusted EPS for the fourth quarter and full year 2021; our financial performance; our business plans and product performance; and the impact of the COVID-19 pandemic on the company's results of operations.

acquisitions and divestitures for which there are less than a full period of comparable net sales. Emerging Markets: We define Emerging Markets as the 20 countries that we believe have strong growth potential based on their economic conditions, …

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Transcription of Q3 2021 Highlights

1 Q3 2021 Financial & Operational Highlights | October 27, 2021 1Q3 2021 HighlightsOctober 27, 2021Q3 2021 Financial & Operational Highlights | October 27, 2021 2 Safe Harbor for Forward-Looking Statements andUse of Document:Safe Harbor for forward-looking statements:This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our expected net sales, reported, operational and organic revenue growth rates; reported and adjusted EPS for the fourth quarter and full year 2021; our financial performance; our business plans and product performance; and the impact of the COVID-19 pandemic on the company's results of operations.

2 If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. Factors that may cause such differences can be found in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed or to be filed with the Securities and Exchange Commission under the headings Risk Factors and Safe Harbor for Forward-Looking Statements.

3 Accordingly, you are cautioned not to place undue reliance on any of our forward-looking statements. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which they may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. Non-GAAP Measures:This document contains non-GAAP measures (denoted with *) in talking about our Company s performance. The reconciliations of those non-GAAP measures to their most comparable GAAP measures are contained within this document including appendices attached to the end of this presentation or in our earnings release. Operational net sales growth excludes the impact of foreign currency fluctuations. Organic net sales growth excludes the impact of foreign currency fluctuations and net sales attributable to acquisitions and divestitures for which there are less than a full period of comparable net sales.

4 Emerging Markets:We define Emerging Markets as the 20 countries that we believe have strong growth potential based on their economic conditions, healthcare sectors and our global capabilities. Periodically, we assess our list of Emerging Markets countries, and effective January 1, 2021, modified our list to include the following countries: Brazil, Chile, China, Colombia, Czech Republic, India, Indonesia, Malaysia, Mexico, Philippines, Poland, Russia, Saudi Arabia, Slovakia, South Africa, South Korea, Taiwan, Thailand, Turkey and Vietnam. We have revised prior period amounts to conform to the current year's presentation which had an immaterial impact on previously reported Emerging Markets net sales. Medical Devices:We have three historical reportable segments comprised of Medical Surgical (MedSurg), Rhythm and Neuro, and Cardiovascular, which represent an aggregation of our operating segments that generate revenues from the sale of medical devices (Medical Devices).

5 Specialty PharmaceuticalsOn March 1, 2021, we completed the sale of the Specialty Pharmaceuticals business. Our consolidated net sales include Specialty Pharmaceuticals up to the date of the closing of the transaction. Specialty Pharmaceuticals net sales were substantially based and presented as a stand-alone operating segment alongside our Medical Device reportable segments. Use of Document:This document contains certain Highlights with respect to our third quarter 2021 performance and developments and does not purport to be a complete summary thereof. Accordingly, we encourage you to read our Earnings Release for the quarter ended September 30, 2021 located in the investor section of our website at and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 to be filed with the Securities and Exchange Commission. Amounts reported in millions within this presentation are computed based on the amounts in thousands.

6 As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Certain columns and rows within tables may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in 2021 Financial & Operational Highlights | October 27, 2021 3Q3 2021 Highlights Net sales growth: + as reported, + operational*, + organic* Y/Y Earnings per share: GAAP: $ vs. $( ) Q3:20 Adjusted*: $ vs. $ Q3:20 Gross margin: GAAP: , +200 bps Y/Y Adjusted*: , +130 bps Y/Y Operating margin: GAAP: , +2,090 bps Y/Y Adjusted*: , +220 bps Y/Y Q4 2021 guidance vs. Q4 2020: GAAP net sales growth: 13% - 17% GAAP EPS: $ - $ Organic* net sales growth: 12% - 16% Adjusted EPS*: $ - $ FY 2021 guidance vs. FY 2020: GAAP net sales growth: 19% - 20% GAAP EPS: $ - $ Organic* net sales growth: 18% - 19% Adjusted EPS*: $ - $ Executed on capital allocation strategy of high-quality tuck-in adjacent M&A with the completion of the Lumenis LTD.

7 , and Farapulse, Inc. acquisitions, coupled with the announced agreements to acquire Baylis Medical Company Inc. and Devoro Medical Inc. In MedSurg, received FDA clearance for the EXALT Model B Single-Use Bronchoscope, and initiation of two clinical trials within Prostate health, furthering the body of clinical evidence for both SpaceOAR Vue Hydrogel and Rez m . In Rhythm Management, received Japanese Pharmaceuticals and Medical Devices Agency (PMDA) approval for and commenced the Japanese launch of the POLARx Cryoablation System. In Peripheral Interventions, initiated the HI-PEITHO clinical trial of the EkoSonic Endovascular System (EKOS), for the treatment of acute, intermediate-high-risk pulmonary embolism, and presented a plethora of clinical data including: Late-breaking clinical data from the KNOCKOUT PE registry at VIVA21, which reaffirmed the safety and efficacy of the EKOS system Positive late-breaking clinical trial data for the Eluvia Drug-Eluting Vascular Stent System and the Ranger Drug-Coated Balloon at VIVA21.

8 With the Eluvia stent exhibiting superiority compared to bare metal stents and the Ranger DCB demonstrating continued high rates of primary patency Late-breaking results from the EPOCH clinical trial of the TheraSphere Y-90 Glass Microspheres at the European Society for Medical Oncology (ESMO) Congress 2021 Positive real-world data supporting the next-generation WATCHMAN FLX and legacy WATCHMAN Left Atrial Appendage Closure Devices as alternatives to oral anticoagulation therapy for stroke risk reduction in people with non-valvular atrial fibrillation at Heart Rhythm 2021. Financial HighlightsOperational HighlightsQ3 2021 Financial & Operational Highlights | October 27, 2021 4Q3 2021 Reported Net Sales: $2,932M Net sales by Business; Segment Percentage of Total Net SalesWW Net Sales by Segment and BusinessCRM$512 MEP$86 MNM$221 MIC$744 MPI$452 MEndo$533 MUroPH$384 MMedSurg31% Rhythm and Neuro28% Cardiovascular41% Q3 2021 Financial & Operational Highlights | October 27, 2021 5WW Net Sales DetailThree Months Ended September 30, 2021 and 2020(in millions)Q3 2021Q3 2020As Reported BasisLess: Impact of Foreign Currency FluctuationsOperational BasisLess.

9 Impact of Recent Acquisitions / DivestituresOrganic BasisENDOSCOPY$ 533 $ 475 % % % % %UROLOGY AND PELVIC HEALTH 384 350 % % % % %MEDSURG 917 825 % % % % %CARDIAC RHYTHM MANAGEMENT 512 465 % % % % ( ) %ELECTROPHYSIOLOGY 86 76 % % % % %NEUROMODULATION 221 216 % % % % %RHYTHM AND NEURO 819 757 % % % % %INTERVENTIONAL CARDIOLOGY 744 586 % % % % %PERIPHERAL INTERVENTIONS 452 416 % % % % %CARDIOVASCULAR 1,196 1,002 % % % % %MEDICAL DEVICES 2,932 2,584 % % % % %SPECIALTY PHARMACEUTICALS 74 ( ) % ( ) ( ) % %WORLDWIDE NET SALES$ 2,932 $ 2,659 % % % ( ) % %EMERGING MARKETS NET SALES$ 354 $ 291 % % %EMERGING MARKETS NET SALES PERCENTAGE OF TOTAL BSC 12 % 12 %MEDICAL DEVICES NET SALES UNITED STATES SALES PERCENTAGE OF MEDICAL DEVICE NET SALES 59 % 59 % INTERNATIONAL SALES PERCENTAGE OF MEDICAL DEVICE NET SALES 41 % 41 %Q3 2021 Financial & Operational Highlights | October 27, 2021 6Q3 2021 HighlightsMedSurg Performance SummaryMeasure($ in millions)Q3 2021Q3 2020 Change Y/YReported Net Sales$917M$825M+ Margin $$338M$307M+ Margin % bps Endoscopy: Global net sales + as reported, + Y/Y operational* and organic* Market leading portfolio continues to benefit from differentiated, innovative technology launches, including AXIOS , Resolution Ultra hemostasis clip, and single-use scopes.

10 Received FDA clearance for EXALT Model B which is now available in both the and Europe, and continue to receive positive clinician feedback on image quality and suction. Urology and Pelvic Health: Global net sales + as reported, + Y/Y operational*, + organic* Strong growth led by double digit growth across the Prostate Health franchise with continued strength in both Rez m and SpaceOAR ; excited to initiate the global SABRE clinical trial, which will examine the effectiveness of SpaceOAR Vue hydrogel in reducing late toxicity in patients receiving stereotactic body radiotherapy (SBRT) treatment for prostate cancer, as well as VAPEUR randomized clinical trial in France, which compares Rez m to dual drug therapy for BPH. Closed the acquisition of the Lumenis surgical business in September, expanding our category-leading Urology Portfolio with its differentiated laser technology.


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